Word: madoff
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Since Bernard Madoff's arrest last month, the Securities and Exchange Commission (SEC) has busted three new Ponzi scams, though none are as spectacular as Madoff's $50 billion whopper. (See pictures of Madoff's demise...
Forte may not have had Madoff's years of experience, but his instincts were dead-on: of the $50 million in investor monies, the SEC says Forte deposited $26 million, withdrew $23 million, took $12 million for himself, and gave the rest to early investors, a formula considered the Ponzi gold standard. Forte did not return phone calls to comment on his case. He appeared in court without a lawyer, according to local reports...
...Madoff, Bernard • bulletproof vest is sported...
...premise is timely and depressing: everybody lies. (The pilot face-analyzes Dick Cheney, Eliot Spitzer and various notorious celebs to drive home the point; expect a Bernard Madoff reference any episode now.) "The average person tells three lies in 10 minutes of conversation," Lightman crisply informs us, and while Lie to Me balances him with a partner (Kelli Williams) so earnest and sweet that she eats pudding for breakfast, his jaded worldview is borne out. The characters lie for reasons good, evil and poignant; they lie in guilt and in innocence--but in the end, they lie and they...
Barack Obama appears to share F.D.R.'s instinctive grasp of crisis not as something to be managed but as an opportunity to forge an emotional bond with those he will lead. Will he denounce Bernard Madoff and the modern money changers? Confident enough to be gracious, the President-elect has been much more forthcoming about his economic agenda than the deliberately opaque F.D.R. As for the outgoing President, George W. Bush has no wish to be the Herbert Hoover of the CNBC generation. Accordingly, his Administration will have spent several hundred billion dollars to unfreeze the credit markets. (Indeed...